Feeds

Symantec plans layoffs as sales fall short

Ill wind blows forecasts off course

SANS - Survey on application security programs

Symantec has announced plans to cut its wage bill by 4.5 per cent in a move likely to means hundreds of people will lose their jobs with the security and storage software firm.

Chief financial officer James Beer also detailed previously announced plans to outsource work done by its IT and finance departments during a conference call discussing disappointing financial results.

Symantec's revenues rose to $1.52bn in the quarter ending 3 October, but this fell short of the $1.54bn analysts were expecting. These problems are likely to persist with Symantec predicting revenues of between $1.45bn to $1.5bn in Q3 against earlier Wall St estimates of $1.61bn.

Shares in the software giant slipped from around $15 to $12.20 on the news.

A Symantec spokesman said layoffs would occur across its global business. Staff affected can expect to be notified starting next month.

During its Managed Fusion event in the Netherlands earlier this month, Symantec boss John Thompson said that it wasn't immune if the economic slowdown creates tough times for its customers, adding that the depth of Symantec's portfolio would help it weather the storm. ®

High performance access to file storage

More from The Register

next story
Obama allows NSA to exploit 0-days: report
If the spooks say they need it, they get it
Putin tells Snowden: Russia conducts no US-style mass surveillance
Gov't is too broke for that, Russian prez says
Snowden-inspired crypto-email service Lavaboom launches
German service pays tribute to Lavabit
Mounties always get their man: Heartbleed 'hacker', 19, CUFFED
Canadian teen accused of raiding tax computers using OpenSSL bug
One year on: diplomatic fail as Chinese APT gangs get back to work
Mandiant says past 12 months shows Beijing won't call off its hackers
Heartbleed exploit, inoculation, both released
File under 'this is going to hurt you more than it hurts me'
Arts and crafts store Michaels says 3 million credit cards exposed in breach
Meanwhile, Target investigators prepare for long process in nabbing hackers
prev story

Whitepapers

SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.